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Retirement Income Literacy Study

Study finds improving financial literacy supports retirement wellness and confidence.

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Retirement Research from Retirement Experts

2023 Retirement Income Literacy Study

The latest wave of the research connects financial literacy and advisor education to retirement confidence.

Key Findings
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Facts & Figures


Overall Average Retirement Income Literacy Score1


Percentage Boost in Scores Working With a Financial Advisor1


Knowledge Area: Inflation1

About the Study

Now in its 10th year, the Retirement Income Literacy Study conducted by The American College of Financial Services offers comprehensive insight and analysis into older Americans’ financial literacy in 12 knowledge areas related to retirement income—including Social Security, longevity, investments, and more. The 2023 study is the fourth wave in the body of research, which is fielded every three years since 2014. The primary research question is: Do Americans in the critical period from ages 50 to 75 know enough about retirement income to feel confident they can achieve the best possible outcomes? 

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Center for Retirement Income

Key Retirement Income Planning Resources

The American College Center for Retirement Income is committed to raising knowledge about the issues and concepts facing Americans’ retirement. In addition to the Retirement Income Literacy Study, the Center publishes insights and research, leads in-person and live events, and creates educational curriculum to support financial professionals and benefit society.

Visit the Center
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Research Team

Eric Ludwig


Director of the Center for Retirement Income, Program Director for the Retirement Income Certified Professional (RICP®) Program

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Kaylee Ranck


Research Director, The American College Center for Women in Financial Services

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Chet R. Bennetts


Assistant Professor, Financial Planning, Larry R. Pike Chair for Insurance and Investments, and Program Director, ChFC® and CFP® Certification Education Programs

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Timi-Joy Jorgensen

Timi Joy Jorgensen


Assistant Vice President of Financial Education and Well-being

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Steve Parrish


Professor of Practice and a Scholar in Residence at the McGuire Center for Ethics

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Michael Finke

Michael Finke


Professor of Wealth Management, WMCP® Program Director, Director for the Granum Center for Financial Security, Frank M. Engle Distinguished Chair in Economic Security

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Domarina Oshana


Director of Research and Operations, American College Cary M. Maguire Center for Ethics in Financial Services

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1 2023 Retirement Income Literacy Study. The American College of Financial Services.